Timeshare Share Attorney or Re-seller
5 years ago a friend gave a time share as a gift, she was well meaning but I never used it. It costs me $600. /year. Does anyone know of a reputable attorney or time share re-seller? I have tried to give it away to family members and friends, offering to pay 1 years membership fees. I have tried to give away to a charity. I have even tried to give it back to the company that owns it . I have seen time shares for sale on Ebay for $1.00. All with no takers.
COVID has been unkind to the travel industry. Walking away will ruin my credit rating.
Anyone else or their parents in a similar situations and gotten out successfully?
Any constructive response greatly appreciated.
Thanks so much
DJ
Nov 24, 2020
Parent Replies
You can resell on redweek.com. And if its the Newport Coast Villas time share, I might very well buy it off you but would want to use redweek to handle the purchase.
I have been hearing about this problem for years! So sorry! I really can't be of any help. But I have heard some rumblings that the law should be changed so that every contract must have an end date. I think this is a great idea and should be implemented.
I just happened to see an article about this in my mom's latest AARP magazine: "3 Proven Ways to Get Out of a Timeshare". Read the article, but in a nutshell it says: 1. Surrender the deed by not paying the annual fee, and hope the company doesn't report it to the credit bureaus. 2. Try to sell it, probably for no money unless it's premium such as Disney. They recommend tug2.com or redweek.com. 3. Use an "exit company" to do #1 for you. This is not recommended: "The Better Business Bureau (BBB) reported in 2019 that “complaints against Missouri-based timeshare exit companies have exploded in recent years.... Complaints revolved around hard-sell tactics, fear-mongering, and cases that drag on for years. The biggest red flag ... is a requirement that asks you to pay upfront ... $4,500 is common." )